The cost of copper jumped on Tuesday, approaching the highest levels in two years. Interest in purchases was spurred by a shortage of supply, according to the agency "Prime". In addition, market participants hope for an increase in demand in China, which is the leading importer of copper.

During trading on the London Metal Exchange, July futures reached $10127.00 per ton and ended the session up 0.91% to $10020.00. On Monday, copper quotes showed growth of 1.68%, and last week reached a two-year high of $10208.

According to the assessment of one of the traders quoted by the portal, the rally is caused precisely by the risk of metal shortage on the background of reduced supplies. Its shortage, according to analysts, will be felt not only in the current year, but also in the future against the background of growing demand in such areas as the production of electric cars, artificial intelligence and automation.

The Chinese authorities announced measures to support the economy and, in particular, the real estate market, which may strengthen demand for copper in the country.